Pension firms are ploughing billions of pounds of people’s retirement savings into big tech companies despite fears that huge valuations are fuelling another dotcom bubble.
Apple, Amazon and Facebook dominate the holdings of some of the biggest workplace pensions in the country when some experts say that time is up for the stellar rise of big tech.
The major pension companies typically invest about 15 per cent of their default fund — in which the vast majority of savers are invested — in these technology stocks.
Apple is the top holding in default funds run by Now:Pensions, The People’s Pension, Nest, Aviva and The Pensions Trust, which cover work schemes for the Tesco and the BBC among others. These companies are instructed to invest money
Read more: The Times
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